Latest news with #PILOT
Boston Globe
4 days ago
- Business
- Boston Globe
Boston wanted tax-exempt institutions to chip in more to help pay for city services. Under Trump, it's looking unlikely.
Recently, however, President Trump's siege on grants and other federal funding vital to many of those same institutions has scrambled those plans. 'We are continuing to have productive discussions with our institutional partners and believe that short term progress is possible, but the unprecedented attacks on higher education, research and healthcare and instability from the Trump Administration is clearly a major factor' in those negotiations, city spokesperson Emma Pettit said in a statement. At issue is Boston's voluntary For years, the program, and increase pressure on nonprofits to contribute more cash. Advertisement Top City Hall aides said the city is still committed to updating the program in the future. But in the current political environment, the city doesn't have the leverage to implement major changes, they argue. Harvard alone has already suffered Related : The city's These institutions form critical pillars of many of Boston's core industries, City Hall aides said, and attacks on them With larger threats and forces at play, it makes more sense for the city to ask for PILOT contributions that are consistent with previous years', officials say, rather than pressuring tax-exempt institutions to make significantly larger payments when many are already facing daunting financial challenges. Now is the time for a united front, agreed Patricia McMullin, executive director of the Advertisement 'Hospitals are bracing for the uncertainty and the potential for catastrophic cuts while simultaneously working to prevent that,' McMullin said, emphasizing that hospitals have been some of the most generous participants in the PILOT program, even through 'unprecedented' financial challenges after the pandemic. Related : But the grassroots advocates who have pushed for changes to PILOT for nearly 10 years want the city to keep up the pressure. Now is 'not the time to take your foot off the gas,' said Enid Eckstein, co-chair of the Boston grassroots organization 'It's reprehensible what the Trump administration is trying to do to universities and to healthcare funding, and I recognize that this is a treacherous environment,' she continued. 'But at the same time, I believe that some of these institutions have an incredible amount of money in their endowment, and that these cities, they [also] operate under a challenge right now financially.' More than In Boston, about 52 percent of all land in the city is tax-exempt, according to a Advertisement If the property owned by PILOT-participating nonprofits were taxable, city coffers could have seen roughly $500 million in additional revenue last fiscal year. Related : The PILOT formula implemented in 2011 tries to partially offset that gap. Under the current system, the city asks institutions to contribute 25 percent of what they might've owed if they weren't tax exempt. Half of that the city requests in cash, and nonprofits can fulfill the other half by providing evidence of 'community benefits,' which can be anything from free health care services to tuition assistance or cultural programs. Eckstein said her group has pushed for changes, including incorporating updated property valuations into the PILOT formula. PILOT contributions in most cases are calculated based on property tax rates from the 2011 fiscal year, and property valuations from 2009, which are assumed to be far lower than what that real estate is worth today. The city re-assessed the property values of tax-exempt real estate in the last couple of years, but has not applied those new valuations to the PILOT formula, said Boston City Councilor Liz Breadon, who chairs the council's PILOT committee. Eckstein said her group also wants the city to standardize the community benefits program, so the city and nonprofits can coordinate and better direct resources to the most urgent needs. They also want those changes to be made with community input. Getting tax-exempt institutions to pay more, even in good times, is easier said than done. Because the city does not have the authority to force institutions to fulfill their full PILOT obligation, the program is entirely voluntary. While some nonprofits consistently pay most, if not all, of their requested contribution, others pay little or nothing at all. Advertisement Breadon said it's a balancing act for the city to negotiate higher payments in the future, while also maintaining good relationships with the institutions. PILOT 'is voluntary, so they could just say, 'Oh, we're done, goodbye, we're not paying anything,'' Breadon said. '[So] it's an ongoing conversation right now, and we haven't landed on the compromise that works for everyone yet.' Since the program's inception, the city has never received 100 percent of the total it's asked for from all PILOT qualifying nonprofits. The most recent data from the 2024 fiscal year shows that the city received 76 percent of the nearly $129 million in requested PILOT payments, about $35 million of it in cash. That only funds a tiny fraction of the city's Still, Breadon and City Hall aides said that doesn't mean they're letting nonprofits off the hook. 'Our expectations of our residents is that they'll continue to pay their real estate taxes, and our expectation of our institutions is that they will also continue to meet their commitment to PILOT even though it's a voluntary agreement,' said Breadon. 'We certainly have a lot of sympathy, but we also realize that we need their contribution[s], especially in this difficult time.' Niki Griswold can be reached at
Yahoo
23-05-2025
- Business
- Yahoo
CRDO Introduces PILOT for Predictive Link Optimization and Telemetry
Credo Technology Group Holding Ltd CRDO recently launched PILOT, its proprietary Predictive Integrity, Link Optimization and Telemetry is Credo's integrated telemetry and diagnostics platform designed to work across its entire portfolio of connectivity solutions, including SerDes IP, retimer ICs and system-level Active Electrical Cables (AECs). With PILOT, network operators gain real-time visibility into link health, predictive diagnostic capabilities and intelligent troubleshooting tools, all within a secure, scalable and user-friendly innovation positions PILOT as a transformative tool in managing high-speed links across demanding environments such as hyperscale data centers, artificial intelligence/ machine learning (AI/ML) compute workloads and enterprise and cloud-scale is currently available for evaluation on Credo's PCIe retimers, with plans to extend support across the entire Credo portfolio, including SerDes IP, retimer ICs and system-level AECs. Initial feedback from early-access customers highlights faster deployment times, improved link consistency in dense environments and simplified telemetry integration with existing platforms. PILOT continuously analyzes essential link quality parameters on a per-lane basis, including received eye quality, signal-to-noise ratio and average and burst error rates. These metrics allow administrators to detect signal degradation before any major disruption, enhancing maintenance capabilities and overall system of PILOT's standout capabilities is its ability to actively maintain link health across SerDes, retimers and AECs. It dramatically reduces intermittent disconnects that can throttle throughput or crash high-load compute collaboration with customer telemetry systems, PILOT's AI models predict potential failures, offering actionable insights that coincide with regular maintenance windows. This predictive insight enables IT teams to plan preemptive interventions during maintenance periods, preventing outages and ensuring continuity. Another key aspect is its rich, intuitive graphical user interface (GUI). Designed for ease of use, the platform allows teams to capture and analyze trace data and adjust performance settings in real-time. Moreover, security and flexibility form the core of PILOT's architecture. It is embedded with features such as optional secure boot, encrypted attestation reports, open APIs for telemetry data integration and support for zero-trust environments. This ensures that telemetry data and link diagnostics are secure, authenticated and compliant with enterprise-grade security standards. Credo continues to focus on faster, more reliable and energy-efficient solutions to power the future of AI, cloud and hyperscale networks. In April 2025, the company introduced its innovative Lark optical Digital Signal Processor (DSP) family, engineered to transform 800G optical transceivers. The Lark portfolio has two distinct optical DSP is also expanding into PCIe solutions to meet the rising demand in AI networks. A strong interest in its PCIe and Ethernet retimers highlights the need for high-performance tech in AI servers. With PCIe retimer demand set to top $1 billion by 2027, Credo is well-positioned for the third quarter of fiscal 2025, CRDO reported $135 million in revenues, up 87% sequentially and 154% year over year, beating the Zacks Consensus Estimate by 12.5%. This surge was mainly driven by its largest hyperscale customer, which significantly scaled the production of AI platforms, reflecting the growing demand for AI-powered connectivity the fourth quarter, CRDO expects revenues between $155 million and $165 million. The Zacks Consensus Estimate for fiscal fourth-quarter revenues is pegged at $160 million, suggesting growth of 163.2% from the year-ago quarter's reported figure. CRDO currently has a Zacks Rank #3 (Hold). Shares of the company have rallied 210.3% in the past year compared with the Zacks Electronics-Semiconductors industry's growth of 17.3%. Image Source: Zacks Investment Research Some better-ranked stocks from the broader technology space are Juniper Networks, Inc. JNPR, InterDigital, Inc. IDCC and Ubiquiti Inc. UI. JNPR presently sports a Zacks Rank #1(Strong Buy), while IDCC & UI carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks is leveraging the 400-gig cycle to capture hyperscale switching opportunities inside the data center. The company is set to capitalize on the increasing demand for data center virtualization, cloud computing and mobile traffic packet/optical convergence. Juniper also introduced new features within the AI-driven enterprise portfolio that enable customers to simplify the rollout of their campus wired and wireless networks while bringing greater insight to network operators. In the last reported quarter, it delivered an earnings surprise of 4.88%.IDCC is a pioneer in advanced mobile technologies that enable wireless communications and capabilities. The company engages in designing and developing a wide range of advanced technology solutions, which are used in digital cellular as well as wireless 3G, 4G and IEEE 802-related products and networks. It has a long-term growth expectation of 15%.Ubiquiti's effective management of its strong global network of more than 100 distributors and master resellers improved its visibility for future demand and inventory management techniques. In the last reported quarter, Ubiquiti delivered an earnings surprise of 33.3%. Its highly flexible global business model remains well-suited to adapt to the changing market dynamics to overcome challenges while maximizing growth. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Juniper Networks, Inc. (JNPR) : Free Stock Analysis Report InterDigital, Inc. (IDCC) : Free Stock Analysis Report Ubiquiti Inc. (UI) : Free Stock Analysis Report Credo Technology Group Holding Ltd. (CRDO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
20-05-2025
- Business
- Business Wire
Credo Launches PILOT a Diagnostic and Analytics Software Platform, Enhancing Link Reliability and Performance Across High-Speed Connectivity Solutions
SAN JOSE, Calif.--(BUSINESS WIRE)-- Credo Technology Group Holding Ltd (Credo) (Nasdaq: CRDO), an innovator in providing secure, high-speed connectivity solutions that deliver improved reliability and energy efficiency, today introduced PILOT, its proprietary Predictive Integrity, Link Optimization, and Telemetry platform. Designed to support a full suite of Credo connectivity offerings —including SerDes IP, retimer ICs, and system-level Active Electrical Cables (AEC)—PILOT delivers advanced diagnostic and analytic capabilities along with mission mode telemetry establishing a new benchmark for link reliability and uptime stability. Engineered for the rigorous performance demands of hyperscale data centers, AI clusters, and cloud-scale infrastructure, PILOT empowers network administrators to detect, diagnose, and resolve signal degradation before it impacts workloads. Share Engineered for the rigorous performance demands of hyperscale data centers, AI clusters, and cloud-scale infrastructure, PILOT empowers network administrators to detect, diagnose, and resolve signal degradation before it impacts workloads—dramatically reducing link flaps and minimizing costly system maintenance and down-time. 'PILOT is a major step forward in intelligent connectivity,' said Bill Brennan, CEO of Credo. 'By combining advanced telemetry with system-level debug tools, we're enabling our customers to maintain high-performance, low-power links at scale—minimizing the risk of unexpected link failures or flapping that can disrupt AI workloads and cloud services.' Key Features of PILOT: Real-Time Link Integrity Monitoring: Includes received eye quality, signal to noise ratio, average and burst error rates on a per lane basis to detect subtle degradations before they trigger link instability. Minimized Link Flaps: Actively monitors and maintains consistent link health across SerDes, retimers, and AECs—reducing intermittent disconnects that can throttle throughput. Predictive Diagnostics: In conjunction with our customers' telemetry systems, AI-powered analytics forecast potential failures, enabling preemptive intervention during maintenance windows to reduce system downtime. Intuitive Debug Environment: Rich GUI to examine logged telemetry, initiate trace capture and adjust performance metrics in real time. Secure, Customizable Architecture: Provides advanced security features, open APIs, optional secure boot and encrypted attestation reports to support a zero-trust security model. PILOT is now available for evaluation on Credo's PCIe retimers and will roll out across Credo's SerDes, retimers and system level AECs over the coming quarters. Early-access customers report best-in-class usability, faster deployment and improved consistency in dense rack-scale environments. To learn more or schedule a demo, visit or email sales@ About Credo Credo's mission is to advance high-speed connectivity solutions that deliver optimized performance, reliability, energy efficiency, and security for the next generation of AI driven applications, cloud computing, and hyperscale networks. Optimized for both optical and electrical applications, our solutions support port speeds up to 1.6Tb. At the core of our technology is our proprietary Serializer/Deserializer (SerDes) IP. Our diverse solutions portfolio includes system-level products such as Active Electrical Cables (AECs), a range of Integrated Circuits, including Retimers, Optical DSPs, SerDes chiplets, and SerDes IP Licensing. For more information, please visit Follow Credo on LinkedIn. Credo and the Credo logo are registered trademarks of Credo Technology Group Limited in the United States and other jurisdictions. All other trademarks referenced herein are the property of their respective owners.
Yahoo
14-05-2025
- Business
- Yahoo
Developers seek to bring more housing to downtown Gatlinburg
GATLINGBURG, Tenn. (WATE) — More housing could be on the horizon in downtown Gatlinburg as developers seek to create more homes for people in the area. Mountain Brook Apartments, a complex just off the Parkway, recently added 10 new townhomes to their lot and hope to create more affordable housing for people who live and work in the area. Trooper describes rescue of injured hiker stuck in the Smoky Mountains 'The rental rates in this area are pretty much capped, most people can't afford higher rents than we're offering right now, and as a result we're having to try to come up with construction ideas that that work,' said Mountain Brook Apartments co-owner Joe Lelonek. When building the complex, Lelonek said they were able to keep rent to an affordable price, either at or below the average market value, as part of the PILOT, or 'Payment in Lieu of Taxes' program through the city. 'You need to have more and more places for people to live, more homes, more apartments, more townhomes. So I think from my standpoint, it's one of the most important things that has to happen in this town,' said Lelonek. Cosby Area of Great Smoky Mountains National Park reopens He said most employees downtown typically commute up to an hour away, and he hopes by bringing more housing, people can start calling Gatlinburg home. At their apartments now, property manager Joy Grzelak said that's already happening. 'Most are going to be your families that work on the strip. So all of your servers your bartenders, but we've got people that have moved here to retire,' said Grzelak. 'They just want to be in these Smoky Mountains, and this gives them just a great environment to wake up to every day.' Lelonek added that by bringing more housing to people who work here, the local economy will benefit as well. He also said they hope to develop more in the future. 'Any way we can come up with an idea and try to make it happen, we will do that. Because I think it's gravely important to have housing in Gatlinburg to support It's businesses,' he said. READ: More top stories on Mountain Brook Apartments is currently leasing the new, two-bedroom townhomes, for around $1,600-$1,700 month, they also have one- bedroom units starting around $1,300 a month. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Axios
02-05-2025
- Business
- Axios
Trump's not alone in wanting Harvard to pay taxes
For years, Boston and Cambridge residents have called on Harvard University to pay more taxes. Now Harvard is under the spotlight for its tax-exempt status — but not for the same reasons. Why it matters: A perennial debate over how much Boston's major universities owe local governments has become dwarfed by the Trump administration's escalating fight with Harvard. The latest: Trump said on the Truth Social platform he owns that his administration will strip Harvard of its tax-exempt status. This comes as Boston officials and Harvard are renegotiating the terms of Harvard's participation in its Payment In Lieu of Taxes program, to which Harvard has paid just 79% of the amount requested by Boston for the last eight years, the Harvard Crimson reported. Friction point: The programs in Boston and Cambridge are voluntary, but Boston-area colleges with large swaths of land have come under scrutiny in recent years for not paying more. Local advocates, including progressive lawmakers who oppose Trump, have called on Harvard and other universities to pay property taxes, or at least higher PILOT-related payments, to support local residents. How it works: The programs exempt major universities from paying taxes on their institutional properties in exchange for cash payments and investments in city services. Advocates have argued for years that these universities don't pay their fair share, while increasing student enrollment strains an already fraught housing market. Since fiscal 2012, Boston's PILOT program has asked certain institutions owning property valued over $15 million to invest 25% of what would have been paid. Up to half of that could be paid in the form of community services, per a 2024 Boston Municipal Research Bureau report. By the numbers: Altogether, Bloomberg estimated that Harvard saved $158 million in 2023 on property tax bills in Cambridge and Boston. The university has paid Boston $33 million over the past 10 years, along with investments in services for Boston residents. (In fiscal 2024, they invested some $22 million, per city of Boston estimates.) Meanwhile, Harvard has given Cambridge under $5 million annually for its PILOT program. Harvard committed to paying $6 million this year, per the Crimson. It's unclear how much Harvard has paid Cambridge in services. The other side: Boston officials, and even the research bureau, have called the PILOT program a success. A 2024 BMRB report says alternative payment methods — namely a $100-per-student fee other states have imposed — would have a "detrimental effect" on colleges' voluntary participation in the PILOT program. Yes, but: All of that may become moot for Harvard if it loses its tax-exempt status. Threat level: The Trump administration has already canceled millions in research grants and clawed back billions of dollars from Harvard, prompting the Ivy League school to sue.
